Introduction

Welcome to RocketX Exchange! We’re thrilled to introduce you to Mantle Network, an innovative blockchain technology. This guide will cover everything you need to know about this Network, including how it works. We’ll also discuss Mantle Coin (MNT), its tokenomics, and its future potential. Additionally, we’ll provide a step-by-step guide on how to bridge ETH to Mantle and recommend the best wallets for storing your tokens. Let’s dive in!

What is Mantle Network?

Mantle Network is a Layer 2 scaling solution for Ethereum, designed to enhance transaction speed and reduce costs. Utilizing Optimistic Rollups and a modular architecture, it processes transactions off-chain and settles them on the Ethereum mainnet, ensuring security and efficiency.

Previously known as BitDAO, it leverages EigenLayer technology for data availability and supports various applications including decentralized finance (DeFi), gaming, and NFT marketplaces, providing a scalable and cost-effective platform.

How Mantle Network Works

Mantle Network operates as a Layer 2 (L2) scaling solution for Ethereum, enhancing transaction speed, reducing costs, and maintaining security. Here’s a simplified explanation of how it works:

1. Modular Architecture: Mantle Network separates its functions into different specialized parts: execution, consensus, settlement, and storage. This modular design improves scalability and performance, and it remains compatible with the Ethereum Virtual Machine (EVM). 
2. Optimistic Rollups: Optimistic Rollups bundle multiple transactions off-chain and then submit them to the Ethereum mainnet as a single batch. This reduces transaction fees and increases the number of transactions the network can handle. 
3. Data Availability: It uses EigenLayer technology to ensure transaction data is always accessible and secure. This layer separates data storage from execution and consensus processes, improving efficiency and maintaining high-security standards​.
4. Security: Mantle Network inherits Ethereum’s security model. This means it uses Ethereum’s validators to check and secure transactions, ensuring they are as safe as those on the Ethereum mainnet. It also employs Multi-Party Computation (MPC) nodes to validate transactions and enhance security​.
5. Transaction Processing:

• • Initiation: Users or applications start a transaction, which is then received by the network’s sequencers.
  • Handling: The transaction is verified and bundled into a batch by sequencers. This batch is submitted to the Ethereum mainnet.
  • Settlement: The batch is processed and finalized on the Ethereum mainnet.
  • Storage: Data availability nodes store transaction data for future access​.

MNT Coin and Its Tokenomics

MNT is the native token of the Mantle Network, a Layer 2 scaling solution for Ethereum. It serves various functions within the ecosystem, such as covering gas fees, facilitating governance, and promoting network growth.

1. Total Supply: 6,219,316,795 MNT
2. Circulating Supply: 3,266,841,708 MNT
3. Market Cap: $2,338,910,723
4. Max Supply: 6,219,316,795 MNT

Future Potential of MNT Token

The Mantle Token (MNT) has significant growth potential due to its advanced technology and strategic market positioning. With a Total Value Locked (TVL) of approximately $586.96 million and increasing transaction volumes, the network is gaining traction in the DeFi sector. Mantle’s efficient design, using Optimistic Rollups and EigenLayer, ensures minimal fees and high throughput. In July, Mantle Network accounts grew by 14.5% compared to the previous month, with daily transactions steadily increasing.

Mantle is also associated with the cryptocurrency exchange Bybit, which supports BitDAO projects and backs the network. Bybit’s support includes ecosystem growth initiatives, enhancing Mantle’s exposure and liquidity. This partnership strengthens MNT’s market presence and supports its long-term growth prospects. Active community governance and seamless Ethereum compatibility further position MNT for substantial future growth.

How to Bridge or Convert ETH to Mantle

Step 1: Access RocketX

Navigate to the RocketX platform using your preferred web browser.

Step 2: Connect Your Wallet

Link your cryptocurrency wallet to RocketX. Supported wallets include MetaMask, Rabby, OKX, Coinbase Wallet, etc. 

Step 3: Select Networks and Assets

• From the RocketX interface, select your source network and the token you want to convert. In this guide, we are using the Ethereum network and the ETH token. If you are using another source network like Arbitrum, Optimism, Binance Smart Chain, Avalanche, Fantom, Aptos, or Sui, select that instead.
• Choose Mantle Network as your destination network and select the token of your choice. For this process, we are selecting the MNT token because it is required for paying transaction fees on the Mantle Network.

• Step 4: Initiate the Bridge

  • Enter the amount of ETH you want to transfer.
  • Provide the recipient address on the Mantle Network.
  • Click “cross-chain swap” and confirm the transaction in your wallet.

  Note: Ensure your wallet has sufficient funds to cover any transaction fees that may be incurred during the bridging process.

  Step 5: Complete Transfer

  RocketX will handle the asset transfer securely and efficiently. You will receive a confirmation notification once the assets have been successfully bridged to your wallet on Mantle Network.

How to Swap Tokens on Mantle Network

Once your assets are on this Network, you can easily swap them for other tokens. Here’s how:

1. Access RocketX:
• Open the RocketX platform in your browser.
2. Connect Your Wallet:
• Link your cryptocurrency wallet (e.g., MetaMask, Rabby, OKX, Coinbase Wallet) to RocketX.
3. Select Your Cryptocurrency:
• Choose the token you currently hold (e.g., MNT).
• Select the token you want to receive in exchange (e.g., ETH).
4. Enter Trade Details:
• Specify the amount you wish to swap.
• Review the transaction details for accuracy.
5. Confirm and Execute the Swap:
• Confirm the swap in your wallet to complete the transaction.
• RocketX will securely handle the swap, and you’ll receive a confirmation once completed.

Best Wallets for Mantle Network Tokens

When storing and managing Mantle tokens (MNT), having a reliable and secure wallet is essential. Here are the top crypto wallets for MNT in 2024:

MetaMask: Easy-to-use browser extension and mobile app, compatible with MNT and many other cryptocurrencies.

Trust Wallet: User-friendly mobile wallet, that supports a wide range of cryptocurrencies, including MNT, with integrated DeFi features.

Ledger Hardware Wallet: Provides enhanced security with cold storage, and supports multiple cryptocurrencies including MNT.

Bitget Wallet: A secure wallet offering support for MNT and various other digital assets, providing easy access and management.

Conclusion

Mantle Network is set to revolutionize the blockchain landscape with its innovative technology and robust infrastructure. By leveraging the power of Mantle Network, users and developers can enjoy enhanced scalability, security, and interoperability. Join us at RocketX Exchange and be a part of this exciting journey!

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